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Hedge funds build up short bets on VW again

Reuters UK – Hedge funds have increased their bets on a fall in voting shares in Europe’s biggest carmaker Volkswagen, according to data on Tuesday, despite the heavy losses suffered by such funds last year.

Hedge funds shorting VW were caught out in October when VW shares more than quadrupled after Porsche announced it had effective control of 74.1 percent of VW.

This left less than 6 percent tradeable in the market and saw funds scrambling to cover their positions.

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